Keyword
fraud
BMO and CIBC’s Simplii warn fraudsters may have accessed data of 40,000 clients
May 28, 2018 The Canadian PressTORONTO – Two of Canada’s biggest banks are warning that “fraudsters” may have accessed certain personal and financial information from some customers. The Bank of Montreal said fraudsters contacted the bank on Sunday claiming to be in possession of certain…
Dozens of North American securities regulators target cryptocurrency schemes
May 23, 2018 The Canadian PressTORONTO – Dozens of North American securities regulators have joined forces to investigate and warn investors about cryptocurrency-related schemes. Operation Cryptosweep includes more than 40 regulators in the U.S. and Canada, including the Ontario Securities Commission, which issued a release…
Claimant makes incorrect proof of loss statement: Error? or “Wilfully false”?
May 10, 2018 by David GambrillA claimant does not have to intend to deceive an insurance company in order to make a “willfully false statement” on a proof of loss, thus voiding the insurance policy, an Ontario court has ruled. In Pinder v. Farmers’ Mutual…
Tip to broker leads to undercover auto fraud investigation
April 9, 2018 by Greg MeckbachAs auto insurance premiums go up, Aviva Canada is going after healthcare providers and legal professionals who are conspiring to submit false or inflated claims. Fraud is a “key” reason auto insurance premiums are rising in Ontario and the government…
What Ontario needs to do to reduce auto insurance costs
March 20, 2018 by Greg MeckbachIf Ontario motorists want lower insurance rates, the government will have to take a harder line on distracted driving, a former Ontario civil servant said Monday. Fraud in the collision repair industry and distracted driving are among the issues that…
If a car is parked in the forest, is it fraud?
March 20, 2018 by Jason ContantOut of sight, out of mind? That expression could be used to describe a recent Manitoba Public Insurance (MPI) fraud case in which a hunter, deep in the backwoods of the Interlake, was amazed to come across a car in…
New discount proposed for claimants who use insurers’ accredited body shops
March 13, 2018 Greg Meckbach, Associate EditorIn the wake of an undercover investigation that allegedly caught collision repair centres deliberately damaging vehicles, Aviva Canada is pushing for discounts for vehicle owners who agree to use an insurer’s accredited body shop. Such a discount would require a…
Fraud survey reveals Canadians’ fears about safety of personal information
March 7, 2018 by Jason ContantNearly four in 10 (39%) of Canadians fear that their personal information has been compromised. The annual fraud survey, released on Wednesday, was commissioned by the Chartered Professional Accountants of Canada and conducted last month. Three-quarters (76%) of 1,000 Canadians…
Some Assembly Required
February 27, 2018 David Gambrill, Editor-in-ChiefAuto lines across Canada are in dire need of repair right now. In a fairly benign year, with virtually no major catastrophe events, the Canadian property and casualty industry still came dangerously close to losing money, posting a relatively disappointing…
Ontario PC leadership hopeful slams Liberals for delaying auto fraud office
February 21, 2018 by Greg MeckbachOntario PC leadership candidate Caroline Mulroney promises to do “more than just talk” about cracking down on insurance fraud if she becomes premier of Ontario this June. Ontario Liberal Finance Minister Charles Sousa announced this past December the provincial government…
Fraud Squad
February 8, 2018 Kim Donaldson, Vice-President, Ontario Region, Insurance Bureau of CanadaOntario wants to stamp out auto insurance fraud by creating a dedicated team of fraud prosecutors. Here’s what P&C insurers think of the plan…
Top 5 auto frauds in Manitoba last year
January 12, 2018 by Jason ContantManitoba Public Insurance (MPI) has released its top five frauds of 2017. The annual list is selected by reviewing a number of factors, including “sheer uniqueness of the fraud, financial savings for MPI and investigative excellence in unearthing the fraud.”…